In commodities, spot gold was closing near.....>

GOLD: In commodities, spot gold was closing near $1,265.95 per ounce, after

trading in a $1,263.00 to $1,272.95 range, Tuesday's high of $1,274.16 was the

highest since June 14 when gold peaked at $1,280.77.

- On June 6, the precious metal posted a high of $1,296.15, but then stalled,

creating a double-top with the $1,295.56 high seen April 17. Subsequently, gold

moved lower as U.S. Treasury yields and the dollar recovered, bottoming July 10

near $1,204.90. A break above the June 14 highs will target the early June

peaks.

- OUTLOOK: O/B daily studies remain the key concern for bulls who are initially

focused on $1280.8 with overall focus on tests of 2017 highs. The $1251.2-1262.2

support region remains key. Bears look for a close below $1262.2 to gain

breathing room and below the 55-DMA to shift focus to the $1242.4 support. Bulls

now need a close above $1280.8 to reconfirm a bullish bias and target 2017

highs.